Zevenbergen Capital Investments LLC Acquires New Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Zevenbergen Capital Investments LLC bought a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 4th quarter, Holdings Channel.com reports. The fund bought 418,035 shares of the company’s stock, valued at approximately $12,140,000.

A number of other large investors have also added to or reduced their stakes in ARQT. Nordea Investment Management AB bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $5,850,000. Ally Bridge Group NY LLC bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $4,396,000. Frazier Life Sciences Management L.P. raised its stake in shares of Arcutis Biotherapeutics by 12.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock worth $138,441,000 after acquiring an additional 1,089,227 shares in the last quarter. Jennison Associates LLC lifted its position in Arcutis Biotherapeutics by 10.3% during the third quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock valued at $230,990,000 after acquiring an additional 1,144,714 shares during the last quarter. Finally, Perpetual Ltd lifted its position in Arcutis Biotherapeutics by 7,534.3% during the third quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock valued at $38,164,000 after acquiring an additional 1,998,086 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday. Guggenheim increased their price objective on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Needham & Company LLC raised their price objective on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. HC Wainwright boosted their target price on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Larry Todd Edwards sold 3,687 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total transaction of $92,838.66. Following the completion of the transaction, the insider owned 175,178 shares of the company’s stock, valued at $4,410,982.04. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd Watanabe sold 37,349 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total transaction of $940,447.82. Following the completion of the sale, the insider directly owned 785,957 shares in the company, valued at approximately $19,790,397.26. The trade was a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 163,733 shares of company stock worth $4,204,675. Corporate insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Trading Up 0.5%

Shares of NASDAQ:ARQT opened at $21.33 on Tuesday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.57. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.86 and a 52-week high of $31.77. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -152.35 and a beta of 1.66. The business has a 50-day moving average price of $25.02 and a 200-day moving average price of $24.92.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%.The firm had revenue of $129.50 million for the quarter, compared to analyst estimates of $110.79 million. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.